Re:SEC Emergency Action Halts PlexCoin ICO
by Frogolocalypse on Monday December 04, 2017 @04:16PM
(#15847599)
No it isn't. You can create an ICO with a github account and dodgy php. To create a company and list it, it is a wee bit more complex.
Re:SEC Emergency Action Halts PlexCoin ICO
by Erlich_Bachman on Monday December 04, 2017 @04:25PM
(#15847648)
You don't have to list it in order to scam people with it. They can buy stocks even in non-listed companies. At least not listed on major exchanges.
While it might be easier to make a compelling ICO, registering a scammy company is also relatively easy (1k-2k USD). Or perhaps a bit more if you want to come up with some questionable tech and defraud some VCs with experience. It has been done, it is still being done.
Up to this point it has been somewhat harder to get away with it though. Now hopefully it will be harder to get away with a scam ICO too.
The point is, if you are out there trying to invest your money, and you don't have any idea about how to judge people, how to judge business models, how to judge the underlying tech - you will loose money. Whether it's an ICO or a regular company selling it's equity using traditional methods.
Re:SEC Emergency Action Halts PlexCoin ICO
by Frogolocalypse on Monday December 04, 2017 @07:47PM
(#15848916)
And that is why securities are regulated.
If you cannot get even a glimpse from this webpage, that this specific ICO is likely a scam, you should not invest in ICOs. You will likely not be able to tell which ones (the 1 out of 100) are likely legit, have serious people behind them, and on top of that have an actual sound idea that has a good chance of working. But it's kinda the same with stocks.